Saturday, June 25, 2011

How much debt do I have? (Jun 11)


In Mar 11, I had recalculated my total debt which is totally from the mortgage loan of my flat to be $25K. The calculation is based on using the outstanding housing loan amount minus away my total family CPF OA amount.

Today I have recalculated my total debt again, and the total debt has reduced by $3k to $22k. In my post on "What I hope to achieve in 20 years?", I mentioned that I wanted to reduce my total debt to $0 within the next five years, Based on my conservative estimation, I think it is achievable by the end of next years.

2 comments:

Musicwhiz said...

Hi!

A little confused by your post. You mean that the gross debt minus your gross CPF OA balance = $22,000? Or that your mortgage loan net balance is just $22,000?

Thanks!
Musicwhiz

Freedom Achiever said...

Hi Musicwhiz,

My gross debt minus my gross CPF OA balance = $22,000.

Regards,
Freedom Achiever

Have you started your journey towards financial freedom?

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